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External Links
Some of the links on this site may resolve to nongovernmental agencies.
The information on these pages is not controlled by the Kentucky Department of Financial Institutions or the commonwealth of Kentucky.
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Welcome to the Kentucky Department of Financial Institutions Web Site
The Kentucky Department of Financial Institutions (DFI) is the state agency responsible for the supervision of the financial services industry and for chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. In order to accomplish its mission, DFI conducts examinations on state-regulated financial industries through its Division of Financial Institutions and Division of Securities.
DFI also provides educational materials and outreach to protect consumers from financial fraud. DFI assists the industry and public through the investigation of complaints filed with the office. If you have a question or need to file a complaint, DFI is here to help.
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How Can We Help You? |
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Need help with investments or loans?
Those DFI regulates can find information about charters, licensing, registration and more in our industry channels:
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Banks, credit unions, trusts, holding companies |
Mortgage lenders, exempt companies, check cashers, consumer lenders, industrial lenders, money transmitters |
Securities offerings, broker-dealers, investment advisers, issuers, agents |
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IMPORTANT
NOTICE: Effective June 1, 2009, the fee is increasing for registration by notification of some individual mutual funds. Except for Unit Investment Trust filings, notice filings in Kentucky for all investment companies registered under the Investment Company Act of 1940 that are made or become due for renewal on or after June 1, 2009, any notice filing that contains more than one fund, portfolio, class, series or other distinction among its shares, will be required to pay $1,000. Any notice filing that contains no more than a single fund, portfolio, class, series or other distinction among its shares will be required to pay $500, as before. For details, please read the attached notice. [PDF 94K] |
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Putting the Mission to Work |
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Mission Statement
DFI's mission is to serve Kentucky residents by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.
In fulfilling its mission, DFI is dedicated to serving the suppliers, as well as the users, of financial services and to assuring a stable market which brings the two together.
DFI also works to promote economic growth through increased capital, whether by initial capitalization of private investors or retained earnings, and by flexible policies, laws and regulations that provide for competition within the industries.
Primarily through the examination process, DFI determines if Kentucky's state-regulated financial institutions and securities entities are exercising safe and sound practices and/or complying with applicable laws and regulations. Depository institutions are evaluated in the areas of management, quality of assets, capital adequacy, earnings and liquidity and are checked for compliance with laws and regulations. Securities entities and non-depository institutions' examiners focus primarily on regulatory compliance and consumer protection issues.
DFI's long and continuing tradition of public service is supported and sustained by a highly skilled and diverse workforce that responds rapidly to changes in the financial environment.
Department of Financial Institutions
1025 Capital Center Drive
Suite 200
Frankfort, KY 40601
Phone: 502-573-3390
Toll free: 800-223-2579
Fax: 502-573-0086
E-mail: kfi@ky.gov
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Recent Press Releases |
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- Citizens, Service Providers Urged to Report Elder Abuse
Monday, June 15, 2009
Today is World Elder Abuse Awareness Day, and the Kentucky Attorney General’s Office and the Kentucky Department of Financial Institutions (DFI) are partnering to urge citizens to report possible elder abuse or financial exploitation.
- Kentucky Banks Rank Eighth in Profitability
Wednesday, June 10, 2009
The Kentucky Department of Financial Institutions (DFI) today announced that Kentucky banks are ranked eighth in the nation in terms of return on average assets (ROAA), which is a primary measure of profitability.
- Web Site Offers Investment, Credit Help
Wednesday, May 27, 2009
The Kentucky Department of Financial Institutions (DFI) today unveiled an upgrade to its Web site, www.kfi.ky.gov. The pages have been restructured to improve navigation relating to industry regulation and licensing. In addition, two brand new pages in the Public Resources channel offer investment and credit help for consumers.
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DFI and AARP have produced a video summarizing the information presented at Senior Scam Jam events in 2007 and 2008: how to guard against various types of fraud. Copies of the video, "Buyer Beware," are limited, but are being made available for free on a first-come, first-served basis to groups of 25 or more. To request a free copy, call DFI at 800-223-2579 or AARP at 866-295-7275.
Click the logo above for help with foreclosure issues.
Become a Free Lunch Seminar Monitor! DFI and AARP are recruiting volunteers to collect information provided at investment seminars for evaluation by regulators. For more information, visit www.aarp.org/nofreelunch. |
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The following items may be of interest to the public and/or the industries DFI regulates:
An executive order [PDF 288K], signed by the commissioner on June 25, 2009, modifies KRS Chapter 286.8. The order establishes several dates critical to the licensing/registration of mortgage loan originators. Additional information about implementation of House Bill 106 relating to the federal S.A.F.E. Act will soon be posted on the Mortgage Law Changes page.
Effective June 1, 2009, the fee is increasing for registration by notification of some individual mutual funds. For details, please visit the Registrations and Exemptions page.
On April 10, Jewell Robbins was sentenced in Fayette County Circuit Court to three years in the state penitentiary, probated for five years, for violating Kentucky’s securities laws covering registration. The maximum possible penalty is five years in prison, and the commonwealth recommended three years. The charges are a result of an investigation by the U.S. Postal Inspection Service and DFI. Fayette Commonwealth’s Attorney Ray Larson's Office is prosecuting the case. For information on DFI's case against Robbins, visit DFI v. Robbins. The terms of the voluntary injunction continue to be enforced, which means Robbins may not sell securities in Kentucky.
DFI agency legislation has successfully passed the 2009 General Assembly session. House Bill 444, regarding payday lending, was signed by the governor on March 25, and House Bill 106, regarding mortgages, was signed by the governor on March 27.
Securities professionals: Please note that an order or advisory opinion may have changed license or registration requirements. Read about changes on DFI's Advisory Opinions page.
The Court of Appeals rendered an opinion Oct. 31 in the DFI v. Home Federal Savings and Loan Association case. The Court affirmed the ruling of the trial court and held that DFI is not authorized to grant community or geographic-based charters to state credit unions.
Need help paying bills, finding a job or holding onto your home because foreclosure is threatened? The Governor's Office has created a new Web site, www.assistance.ky.gov. This site provides links to information about programs that can help during tough economic times, all available in one easy, accessible place.
On July 30, 2008, President Bush signed into law H.R. 3221, which includes the Secure and Fair Enforcement of Mortgage Licensing Act, also known as the S.A.F.E. Mortgage Licensing Act [PDF 121K]. The S.A.F.E. Act is part of the Housing and Economic Recovery Act.
The FDIC has assembled a Web page with information about failed banks.
On June 16, Gov. Steve Beshear signed an executive order abolishing the Environment and Public Protection Cabinet and creating the Public Protection Cabinet. As a part of that order, the former Office of Financial Institutions became the Department of Financial Institutions (DFI). |
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